The Asia-Pacific Economic Cooperation (APEC) is a forum for the economies of the 21 countries that comprise the Pacific Rim. Its primary objective is to promote free trade and economic cooperation throughout the Asia-Pacific region. It was founded in 1989 as a response to growing interdependence in the Asia-Pacific region and the formation of newer regional trade blocs. The body constituted 12 founding members till 1989, later the membership increased to 21 member states in 1